Tech Mahindra to be listed on August 28

Mumbai, Aug 25: IT solutions provider major Tech Mahindra, whose initial public offer (IPO) was closed for subscription on August four, will be listed on the Indian bourses on August 28.

The company has fixed the issue price at the upper end of the price band at Rs 365 per equity share, according to a release here today.

Despite uncertain market conditions, Tech Mahindra IPO has received an overwhelming response from all categories of investors.

Based on the demand received, while the issue was over subscribed 70.09 times, the QIB portion was oversubscribed 103.98 times, the HNI category was oversubscribed by 123 times and the retail category was oversubscribed by 7.58 times. The issue received over 1.93 lakh bids, the release added.

UNI